trump Escalates Effort to Remove Fed Governor Cook

US President Donald Trump has ordered a White House inquiry into Federal Reserve Governor Lisa Cook, concerning allegations of false statements linked to mortgage applications. According to the Daily Times, this move marks another attempt to remove Cook from the central bank.

A memo dated October 7, states that the White House will hold a closed, in-person hearing. The Live Mint reports that President Trump announced the inquiry in a written memorandum issued on October 9, which includes a hearing at the White House on November 5. Cook has been asked to attend this hearing to answer questions from the committee.

The committee will examine whether the allegations against Cook establish sufficient “cause” for her removal, as required under the law governing the Federal Reserve. Cook has denied any wrongdoing and has not been charged with a crime, according to her attorneys.

Brief written by urgent.news from Daily Times, Live Mint — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.